Without a long-term plan
to gradually raise the retirement age to 67 National is
risking a sudden increase in the eligibility age in the
future, says Labour’s Finance spokesperson David
Parker.

“Australia is now openly considering raising the
super age to 70, following in the footsteps of the UK. New
Zealanders don’t want us to follow in those countries’
footsteps and nor does Labour.

“National’s pretence
that the age for eligibility does not need to increase looks
increasingly dishonest.

“Overseas announcements show how
irresponsible the Government is being.

“Labour’s plan
is to start gradually raising the super age to 67, by
increasing the age by two months per year from 2020.
That’s a fair and reasonable way to ensure we can pay for
our retirement. We will also have an exception for those who
can’t work past 65 in their normal job.

“The truth
that National knows but won’t admit is that without a
comprehensive long term plan in place there will be a fiscal
blowout and a sudden rise in the age would be inevitable in
the future.

“Since 2008 super costs have ballooned from
$7.3 billion to $10.2 billion. This is already more than is
spent on all benefits combined plus the accommodation
supplement and working for families.

“The cost of super
will soon be more than the Government spends putting our
children through the entire education system from early
childhood to university. New Zealanders agree it is simply
wrong to spend more on superannuation than educating our
children.

“The key to protecting universal
superannuation is for National to take its head out of the
sand. Sadly Bill English has already made it clear that
won’t be happening,” says David
Parker.

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